If Annie and Andy (Each a 30 Percent Shareholder in a Calendar-Year

question 83

Multiple Choice

If Annie and Andy (each a 30 percent shareholder in a calendar-year S corporation) file a revocation statement on February 10, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?

• A)January 1, 2019.
• B)February 10, 2019.
• C)January 1, 2020.
• D)February 10, 2020.
• E)None of the choices are correct.

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Definitions:

T-tubule

Tubular extensions of the cell membrane in muscle cells, which play a critical role in the conduction of electrical signals for muscle contraction.

Action Potential

A short-lasting event in which the electrical membrane potential of a cell rapidly rises and falls, allowing nerve cells to communicate.

Contractile Organelle

A cell component that is involved in the contraction and movement processes, such as muscle fibers.

Electromyogram

A diagnostic procedure to assess the health of muscles and the nerve cells that control them by recording the electrical activity produced by skeletal muscles.